It is no secret that fleet brokers have not always enjoyed the
best of reputations. When they first came to the fore in the 1980s,
the focus was very much of new business which meant that customer
retention often took a back seat. The strong sales culture meant
that service levels for existing customers were often not the
highest.
Since then, they have undergone a dramatic change. Yes, the
so-called “bedroom-broker” does still exist – the entrepreneur who
runs a brokerage from his house, basing it largely on the internet
with limited service delivery. However, they are fast becoming the
minority in the market. Instead they are being replaced by a much
more professional breed of broker.
Go deeper with GlobalData
The modern broker does a lot more than simply finance vehicles.
Through working with funders, they are able to offer any number of
additional services, looking at anything from green fleet
management to duty of care services. These extra services are
backed up by a more service-oriented approach. More and more, the
focus is being placed on retaining customers rather than simply
grabbing as many as possible. Because of that, the service element
has become far more central to the broker offering.
It’s all very well saying that this new breed of service-centric
brokers exists, but in an industry that has suffered from limited
barriers to entry, how can they prove it? More to the point, how
can companies sort the most professional brokers from the rest?
A lot of factors come into play here – looking at things like
the amount of time they’ve been in business, the number of staff
they have, the training they provide, the breadth of their customer
base and which funders they use should all be on the checklist. All
of these can take time to find out though, so accreditation is fast
becoming key.
Having accreditation from an impartial industry body which sets
standards has got to be the goal of all brokers that take their
business seriously. It’s the only way to instantly inspire
confidence in customers, and it’s an ideal way to set the company
apart from the less professional brokers that have dogged the
industry.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalDataThe British Vehicle Rental and Leasing Association (BVRLA) has
taken up the gauntlet for brokers. It has a specific membership
type for leasing brokers which sets out a clear code of conduct.
It’s a mandatory code for all broker members; it sets out the
principles and standards to which all members have to adhere.
The days when sales were everything and customer service was a
foreign concept to brokers are fast becoming a thing of the past,
but it’s important that brokers get that message out to the rest of
the world.
The way forward has to be development of and greater sign up to
BVRLA accreditation. Too few brokers are taking accreditation
seriously – there will come a time when accreditation of some sort
will be mandatory, so those that get in the game early will be at a
strong advantage.
It’s something that’s becoming increasingly important in the
market – before long, accreditation will be the first thing all
companies look for when choosing their broker.
The author is brand director of Network
Motor Finance Issue: 43 – May 08
by
Jo Elms , Manager Contract Hire &
Leasing
Published for the web: May 23 08 14:11
Last Updated: May 23 08 15:5
